Baxter upsizes tender offers to $600M, prices notes, amends credit agreement

BAXTER INTERNATIONAL INC

Offer Cap increased from $500M to $600M; early tender results show $1.38B tendered across four series.
Pricing: Total Consideration per $1,000: $587.34 (2051), $675.17 (2046), $788.14 (2043), $867.59 (2032); includes $30 early tender premium.
2032 notes accepted at 31.37% proration; aggregate purchase price $600M; early settlement Aug 20, 2026; no final settlement date.
Credit agreement Amendment No. 2 raises max net leverage ratio for five quarters ending Sep 30 2026–Sep 30 2027; removes Baxter World Trade SRL as borrower.

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